NEW YORK, Feb. 20, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of NetSpend Holdings, Inc. ("NetSpend" or the "Company") (NASDAQ: NTSP) (ISIN: US64118V1061) (CUSIP: 64118V106) concerning the proposed acquisition of NetSpend Holdings, Inc. by Total Systems Services, Inc. in a transaction valued at approximately $1.4 Billion in Cash. The investigation concerns whether the NetSpend directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, NetSpend shareholders will be entitled to receive $16.00 per share in cash for each share of NetSpend common stock. However, the price to EBITDA and revenue multiples are below those of comparable transactions. NetSpend shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at email@example.com or 212-661-1100 or 888-476-6529, ext. 237. The firm is also investigating actions on behalf of shareholders for the following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal Technical Institute, Inc. K-Swiss, Inc., Neptune Technologies Bioressources, Inc., Telanetix, Inc., Somerset Hills Bancorp, and BioClinica Inc. The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com. SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
NetSpend Holdings (Nasdaq:NTSP) hit a new 52-week high Friday as it is currently trading at $15.99, above its previous 52-week high of $15.98 with 422,736 shares traded as of 3:45 p.m. ET. Average volume has been 1.9 million shares over the past 30 days.